Cardi B Sparks Controversy with Memecoin Promotion on X
In what seems like a surprising move, American celebrity rapper Cardi B took to X (formerly Twitter) earlier today to promote a new cryptocurrency dubbed "WAP," named unmistakably after her chart-topping track with Megan Thee Stallion. However, this unexpected endorsement has left many of her fans in a whirlwind of speculation, pondering whether the rapper's account has fallen victim to hackers or if this is genuinely an action endorsed by Cardi B herself.
A closely followed blockchain Security firm, PeckShield, was quick to issue an advisory regarding the rapper's post. They cautioned her followers about interacting with the links and wallet addresses shared in the tweet, hinting at the possibility of it being a scam. Despite these warnings, the fact that Cardi B's other social media Platforms show no signs of anomalous activity suggests that she might be genuinely backing this promotion.
Interestingly, this promotional post has not been taken down even after 10 hours, deviating from the norm wherein such posts are swiftly removed, followed by clarifications from the celebrity on their other social media handles denouncing the hacking incident. As of this writing, there has been no word from Cardi B regarding the legitimacy of the X post or any acknowledgment of her account being compromised.
The Skepticism Around the WAP Token
crypto investigator Wazz, through a detailed investigation, linked the wallet address shared in Cardi B's post to a history of rug pulls, casting further doubt on the promotion's credibility. He argued against the hacking theory, suggesting that the post might be a deliberate promotional effort by the rapper. Despite the swirling controversies and skepticism, the WAP token seems to be on an upward trend. Current statistics from Dexscreener reveal the token trading at $0.0002015 with a Market capitalization hovering around $21 million.
Understanding the WAP Token surge
- The abrupt promotion by Cardi B on X and its ensuing controversies.
- PeckShield's swift warning about potential scam links related to the WAP token.
- Emerging skepticism from Crypto experts and the investigation linking the wallet to past scams.
- Unexpected rise in the token's trading value and market cap amid controversy.
Despite the caution advised by experts and Blockchain security firms, the allure of celebrity endorsements often sways public opinion and investment trends within the Crypto market. As the situation unfolds, potential investors and fans alike are urged to exercise due diligence before engaging with the token or any promotional links associated with it.
Final Thoughts
The incident serves as a broader reminder of the volatile and unpredictable nature of Cryptocurrency Investments, especially those influenced by celebrity Promotions. Whether Cardi B's endorsement of the WAP token is a well-thought-out investment strategy or a maneuver entangled in potential scams remains a subject of speculation. However, the critical lesson here is the importance of scrutinizing and verifying the legitimacy of cryptocurrency endeavors before committing any resources, no matter the star power behind the promotion.
As the Digital currency landscape continues to evolve, staying informed and cautious will be paramount for both seasoned investors and newcomers navigating the complex and often tumultuous crypto market.
Also Read: Russian Hackers Are Using Fake AI Sites to Steal Crypto
